A loan of $3,425 helped a member to buy flour, boxes of oil, mustard, and ketchup to stock their business.

La Alborada Group's story

The communal bank, "La Alborada" (Dawn), is comprised of eighteen entrepreneurs who make their living in commerce, specifically cosmetology, clothing sales, markets, sewing, the sale of plastic items, painting, and various other services. They all belong to the municipality of La Florida, located in the city of Santiago.

Claudia is the treasurer of communal bank group. She can be seen standing third from the right in the back row, wearing a pink sweater and holding a folder. Her hair is light brown and she is wearing it up. She makes her living preparing food, specifically sopaipillas. She has been doing this for the past seven months. She tells us that she works alone and that she offers her products to clients in her own home. She attends clients every day, though her work schedule varies according to her availability, since her children are little.

She usually buys her merchandise in supermarkets, low-cost distributors of flour, for economic convenience. With this loan, she will buy flour, cartons of oil, mustard, and ketchup to stock her business. Her goals are to get ahead and to increase her sales, incorporating the sale of completos (Chilean hot dogs served with avocado and mayonnaise), in order to generate more income, since with this she will be able to pursue a better quality of life.

Claudia lives with her two sons, Pablo, who is five, and Kevin, who is two. Her dreams are to rent a place with her brother and sell all types of fast food.

She is very content and grateful for the opportunity that Fondo Esperanza is bringing her, since it has permitted her to invest in her business. Moreover, she feels very comfortable with the organization and the other entrepreneurs in the communal bank group, since they share a variety of activities and interests—which has also presented moments of distraction. The training she has received in meetings has taught her to administer her business in the best possible way.

La Florida is a municipality located to the southeast of Santiago, capital of Chile, Metropolitan region. Their current population is very diverse, representing all socioeconomic sectors (upper, upper-middle, middle, and lower-middle). The region has a very active commercial life, which is manifested in the existence of various new commercial centers. There has been explosive demographic growth in the sector during the last few years.

In this group: Claudia, Maria, Bernardita, Angela, Nataly, Karina, Rosa, Olga, Patricia, Prudencia, Raquel, Paula, Ramon, Leonardo, Yanira, Alejandra, Carolina, Jorge

Translated from Spanish by Kiva volunteer Kate Kremer

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